Big news coming out of New York today…
The New York Daily News Editorial Board has weighed the prospects offered by both presidential candidates.
They’re backing Mitt Romney!
New York Daily News
November 4, 2012
America’s heart, soul, brains and muscle — the middle- and working-class people who make this nation great — have been beset for too long by sapping economic decline.
Paychecks are shrunken after more than a decade in which the workplace has asked more of wage earners and rewarded them less. The decline has knocked someone at the midpoint of the salary scale back to where he or she would have been in 1996.
Then, the subway fare, still paid by token, was $1.50, gasoline was $1.23 a gallon and the median rent for a stabilized apartment was $600 a month. Today, the base MetroCard subway fare is $2.25, gasoline is in the $3.90 range and the median stabilized rent is $1,050, with all the increases outpacing wage growth.
Our leaders owed us better than lower standards of living, and we must have better if the U.S. is to remain a beacon of prosperity where mothers and fathers can be confident of providing for their children and seeing them climb higher on the ladder.
Revival of the U.S. as a land of opportunity and upward mobility is the central challenge facing the next President. The question for Americans: Who is more likely to accomplish the mission — Barack Obama or Mitt Romney?
Four years ago, the Daily News endorsed Obama, seeing a historic figure whose intelligence, political skills and empathy with common folk positioned him to build on the small practical experience he would bring to the world’s toughest job. We valued Obama’s pledge to govern with bold pragmatism and bipartisanship.
The hopes of those days went unfulfilled.
The official unemployment rate stands at 7.9%, marking only the second month below 8% after 43 months above that level. Worse, add people who are working part-time because they have no better choice and the rate leaps to almost 15%. Still worse, add 8 million people who have given up looking for employment and the number who are out of jobs or who are cobbling together hours to scrape by hits some 23 million people.
The regrettable truth is that Obama built a record of miscalculations and missed opportunities.
R.I.P. and never to be resurrected — Obama’s promised bipartisanship.
But those pluses and minuses pale in comparison with middle-class prospects in recommending whether to entrust Obama or Romney with the future.
Romney’s approach is the stronger.
Critically, he has tailored his policies to create jobs, jobs, jobs.
The centerpieces of Romney’s plan call for spending restraint and rewriting the Internal Revenue code to lower rates by 20%. He would make up much of the lost revenue by eliminating deductions and loopholes that have made the tax system a thicket of strangling complexities. On its own, paring the personal and corporate rules to the basics would catalyze business and consumer spending.
Romney has pledged that, as a group, the wealthy will bear no less a share of the burden than they do now, while individuals lower down would enjoy breaks. Many contest as mathematically impossible the Republican’s ability to cut rates and balance the books through tax reform. He disputes the points but, in an encouraging show of pragmatism, he has made clear that moving the nation toward balance may require sacrificing the size of his rate cut.
His proposal for Medicare would permit future retirees to choose between tried-and-true health care and private insurance to produce savings through competition. It took political bravery even to broach such concepts, and they are well worth exploring.
Offering a rosy vision of a country already on the rise, Obama argues that he would lead a resurgence by staying the course. He posits that spending in areas such as education and clean energy would be beneficial, and he sees raising taxes on high-income earners as key to “balanced” deficit reduction. Each on its own is attractive, but the whole comes up short.
The presidential imperative of the times is to energize the economy and get deficits under control to empower the working and middle classes to again enjoy the fruits of an ascendant America.
So The News is compelled to stand with Romney.
Follow Jayde Wyatt on Twitter @YayforSummer